The Effective 8 Startup Accounting Software and tools

Managing accounts manually is something we rarely see businessmen do now. Entrepreneurs now opt for digital accounting tools to fasten the whole process of bookkeeping. It 90% eliminates the possibility of making mistakes and eating up your precious time. Here I have a few small business accounting software reviews which might just prove useless for you!

Quickbooks

Quickbooks online was recorded as the global online accounting software leader with 624,000 subscribers till May 2014. Launched by Intuit, Quickbooks is easy to work upon and eliminates all your paper work. This popular accounting software proffers a cloud solution called QuickBooks Online (QBO) to small businesses or startups which allows you to access the information of your business from iPhone, iPad, or your android phone. An entrepreneur can make invoices, purchase orders, manage and pay bills, and track inventory and employee time thought this simple accounting software. With book-keeping and billing, you can also manage tax information on Quickbooks. You can trial QuickBooks for free for a month and later can subscribe.

Xero

Xero Limited officially formed in 2006, is one of those startup tools which gives you a real time view of your cash-flow. New-Zealand based Xero, is cheap accounting software with a neat design; and features like automatic bank and credit card account feeds, fixed asset integration and standard business and management reporting. Xero can also be connected with banks and online apps like PayPal. Over 475,000 entrepreneurs are now enjoying this startup software. Xero has continuously received awards from 2007-2014 and it also topped the list of ‘Most Innovative Growth Companies in the World’ in May 2014. You can monthly subscribe Xero after your free trial.

Accounting by Wave

Accounting by Wave is one of the startup tools which you can install for free. Wave, founded in Canada is a small business accounting software designed for businesses with 1-9 employees. It has tracked more than $60 billion of income and spending by global entrepreneurs, freelancers, consultants and small businesses. Accounting by wave is the world’s fastest growing small business accounting software with features like business reports (balance sheets, sales tax reports), invoicing, payroll and even tool for your personal finances. You can also look out for articles, advices for small entrepreneurs and also local accountants though this startup software. The company which designed this startup accounting software, later in 2012 launched Payroll, another famous accounting tool.

4. LessAccounting

LessAccounting, a startup accounting software was created by ‘Less Everything’, an old repuated web firm. You can take a two week trial and later subscribe for it at $20, $36 or $54. You will stop procrastinating to maintain your manual record books and be updated with bookkeeping on LessAccounting. It is easy to operate and simple to use. It also provides a 10 minutes tutorial on their website to teach entrepreneurs the basics of bookkeeping. Apart from accounting reports and online contact management using location, LessAccounting also lets businessmen import data from banks, record mileage of business trips and create business proposals.

5. Zoho Books

With Zoho Books, the easy accounting software, make your business more streamlined and systematic. It was created by the company ‘ZOHO’ several years back. Since then many entrepreneurs have trusted Zoho Books for their business and they are completely satisfied with it. Entrepreneurs, you can take benefits of this accounting software by subscribing ZohoBooks’ monthly or yearly plans after a trial of 14 days. The tracking tool that manages timesheets and tracks reimbursable hours is something new in this software, apart from the regular features of invoices, online payment, expenses tracking, tax calculation and others.

FreshBooks

The number 1 cloud accounting specialist for small business owners is Fresh Books. Fresh Books is a decade old invoicing tool which serves users of 120 countries. You need to pay $19.95 monthly after your one month trial and you have this secure, fast, and easy software for your business. Based in Canada, Fresh Books has won the 2013 Stevie Awards for customer service and the 2013 IXDA Award for iPhone design. You can take full advantage of FreshBooks’ support, webinars and accountant map; and also check whether your clients have viewed your invoice on FreshBooks. On average, FreshBooks customers double their revenue in the first 24 months and you can also be one of them.

7. Sage 50 Accounting

Sage 50 accounting is an UK based startup accounting software. Sage accounting software was created by the Saga Group, the third-largest supplier of enterprise resource planning (ERP) software. Earlier known as Peachtree Accounting (U.S.) or Simply Accounting (Canada), Sage 50 Accounting offers you a 60 day trial after which you can decide if you want to pay for it. The feature different in this cheap accounting software is that you can decide when you want to move your business data to the cloud. The IRS accepts reports by Sage 50 for tax payments. Sage 50 accounting is extremely secure and allows you unlimited access to support.

AccountEdge Pro

Winner of the Top Ten Reviews Bronze Award is a small business accounting software, ideal to handle everyday jobs, such as document management, jobs reporting, escrow account management and change orders tracking. AccountEdge is a product of a small company, Acclivity but has made its space in desktops, macs and mobiles of 100,000+ users. It puts 100 Charts of Account templates for you to select from. The software back up your business files on the cloud and will also verify it. It lets you secure your financial data, keeps an audit trail, and runs reviews to make sure your numbers are in balance.

Apart from these softwares, there are various others like Microsoft Dynamics, Oracle and SAP which are very popular in the industry now. However, I have mentioned my personal favorites in this article. You can always take free trials of your short-list of accounting software and decide which one would be suitable for your business type.

Simran Agarwal, is doing her BSc. from St. Josephs College. An optimist (as she calls herself), is enthusiastic to start her own enterprise in future.A writer by fluke has her interests in public speaking and fiction writing. She also likes making greeting card and cycling in her free time. She enjoys challenging experiences which helps her grow her knowledge and skills.